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New York : Real Estate Advice

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Activity 5,625
Wed Oct 11, 2017
Anita jones answered:
If anyone of you are looking for a good, reliable, upfront, fast closing mortgage broker, please contact us at www.leanmeanmortgage.com. We are licensed in NY state.
2 votes 7 answers Share Flag
Tue Oct 10, 2017
Faith answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!
Faith
Consumer Care Advocate
http://www.trulia.com/help/ask/
0 votes 2 answers Share Flag
Mon Oct 9, 2017
Paul Ramirez asked:
Mon Oct 9, 2017
Vies.nepre asked:
Adult Friend Finder When you are utilizing the site, ensure that you avoid potential risk and look at individuals before you get together. In the event that you take no chances then it is…
0 votes 0 Answers Share Flag
Sat Oct 7, 2017
Schul47 answered:
I am going through the same thing. But I live in Michigan. I have never experienced anything like this in my life. We are going on 3 months went from a 15 yr to a 30 yr interest rates went from 3.875% to 4.875% They have copies of 4 of my paycheck stubs and ask me to write out a letter explaining my bank deposits. This is not normal. I am sure I am not the only one that has been or is going through something like this. I have seen many complaints similar to mine on the net. How can a consumer protect themselves from banks that conduct business this way ? I could write on and on but this space is only so big. Any help would be greatly apprciated. Schul47@yahoo.com ... more
0 votes 10 answers Share Flag
Sat Oct 7, 2017
Kathy Burgreen answered:
Go to PATH's website. Also the commuter bus. Whatever you do - DO NOT DRIVE. You are correct. You will spend a good portion of your paycheck with gas, tolls & parking. Not worth it. ... more
0 votes 1 answer Share Flag
Fri Oct 6, 2017
dovedowns asked:
monthly payments? I plan to make one annual payment towards each (tax and insurance) per year? I'm thinking in doing so, I can lower my monthly mortgage payment, increase my down payment…
0 votes 0 Answers Share Flag
Fri Oct 6, 2017
Susie Kay answered:
If you are paying with cash then there's no need to check your credit. No lender is involved.
0 votes 2 answers Share Flag
Thu Oct 5, 2017
Kathy Burgreen answered:
Try looking in Jamaica, Queens or the Bronx. You need to find regular rental apartments that are priced the same as your voucher - not $1.00 over. Most of Queens is very expensive so landlords will not accept tenants who cannot afford the full market rents. If you can pay the difference between the voucher and market rents, landlords will accept you. Take the bus or subway to the Bronx, Rentals are much cheaper. ... more
0 votes 1 answer Share Flag
Thu Oct 5, 2017
Kathy Burgreen answered:
As a former New York City area realtor, brokers who have buyers interested in Dubai will be happy to refer them to you provided the broker is paid a referral fee. The referral fee needs to be paid upfront. Typically, high end brokers are interested in getting buyers for their listings in New York City. They are not interested if buyers are meeting developers in Dubai because they are not being paid for it. As soon as these realtors get paid, they will be interested. ... more
0 votes 1 answer Share Flag
Wed Oct 4, 2017
Kathy Burgreen answered:
As far as I know, lot sizes on both Zillow and Trulia have been listed in sq. ft. - not acres. Many listings on these websites are less than 1 acre, so sq. ft. would make more sense.
0 votes 1 answer Share Flag
Tue Oct 3, 2017
Alan May answered:
Since you'll be the only one on the mortgage, anyone else providing money as downpayment would be considered a gift.

You could resolve this by including your sister on the mortgage (she would then be co-responsible for repaying the loan... although you could privately agree that you are the one who will be paying the loan)...

Or, you could have your sister sign a statement that the cash could be considered a "gift" and need not be repaid. (which is essentially true, since you'll be paying for the balance... not repaying her).

Good luck.
... more
0 votes 1 answer Share Flag
Tue Oct 3, 2017
Emersondestiny89 answered:
Brooklyn to Astoria queens how much is cost
0 votes 25 answers Share Flag
Tue Oct 3, 2017
Msgenerette.donae answered:
been with my PRIVATE landlord for 8yrs. months back received a letter from a property management stating they taking over due to my landlord need help because now his increasing property he's one man only. My landlord didn't notice me about his MASTER PLAN. mind you 8years ago wanted PRIVATE one. ... more
0 votes 26 answers Share Flag
Mon Oct 2, 2017
Guzmanj949 answered:
Citywidehousingservices is a scam they dont help u find any apartments they want you too join a workshop for 25 dollar's they are not a broker of any kind.
0 votes 2 answers Share Flag
Wed Sep 27, 2017
Michelle Delvalle answered:
Hi, my husband and I have bad credit but his income is pretty high. We are looking for a 2 bedroom apartment in the Morris park section of the Bronx. We have three small children and a 25lb dachshund dog. Can anyone help us or give us some advice? ... more
0 votes 16 answers Share Flag
Tue Sep 26, 2017
Kathy Burgreen answered:
The good news is - yes you can buy a studio or 1 bedroom in New York City as a foreigner BUT there are restrictions. So allow me to educate you on what you need to know:

Foreigners can buy real estate anywhere in the U.S. However, you will need to pay at least 30% - 40% of the purchase price in cash. You can get a loan for the balance.

New York City has different types of apartment buildings to buy. One type is cooperative (coop or co-op) and the other type is condominium (condo).
Cooperative (co-op) buildings means that the owners of each unit own shares of stock in a limited housing corporation that gives them the right to occupy their unit indefinitely. Owners can sell their shares of stock or unit on the open market and gain equity for their unit over time. Studios or 1 bedrooms in a co-op building in New York City range from $75,000. - $1,000,000. ($1 million) depending on the neighborhood and condition of the unit / apartment.
Co-op buildings in New York City are only for legal U.S. residents. Foreigners CANNOT live in any co-op building. Buyers need to be approved by the co-op Board after a contract is signed by the seller and buyer but before the closing date. Every co-op Board will verify that the buyer is a U.S. citizen or legal resident. Therefore, the cheap apartments that you see advertised on real estate websites like Zillow, Trulia, etc. are co-op buildings and you cannot buy these apartments because you are a foreigner.

Condominium (condo) apartment buildings means that owners do own their own units (apartments) and get a title or deed for their unit. Owners can sell their units on the open market and gain equity. Studios and 2 bedrooms in a condo building in New York City range from $200,000. - $5 million ($5,000,000). Prices depend on the neighborhood and condition of the apartment. Studios or 1 bedrooms selling for less than $300,000. will be located in the worst neighborhoods and in very bad condition.
Foreigners can buy a condo apartment in New York City. You do not need to be a U.S. legal resident or citizen. However, for a studio or 1 bedroom in good condition in a decent neighborhood will sell for $400 - 500,000. and have fees of $1,000. per month.

Bottom line - as a foreigner to buy a condo apartment at $400,000. means you will need to pay $120,000. (30%) for a down payment. Condo units can be rented out BUT the HOA (homeowners association) has restrictions on how many apartments can be rented out at any one time. There are waiting lists so if you intend to rent out your apartment, you may need to wait several years. Condo buildings need to have a minimum of about 80% owner occupied.

If you intend to do any renovations in your apartment, construction costs are very expensive. I paid $25,000. to have new floors in my apartment (800 sq. ft.) and $25,000. to renovate my bathroom (5 x 7 sq. ft.) - AND I live in a suburb of New York City. Contractor prices are higher within New York City.

Hope this information helps.
... more
0 votes 1 answer Share Flag
Mon Sep 25, 2017
Kathy Burgreen answered:
Yes. The Office Manager or Broker in Charge at your brokerage can easily leave for a different brokerage. It's the same as managers who work at their companies. There is no contract that forces the Managing Broker to stay at that brokerage. This happens more frequently than you think.

The issue for you as a real estate agent is you will now work with a different Office Manager and hopefully that person can help you succeed in the real estate business.
... more
0 votes 1 answer Share Flag
Mon Sep 25, 2017
Bcpink2014 asked:
8th annual toy drive for the east side community children metropolitan hospital an sloan kettering cancer center.
0 votes 0 Answers Share Flag
Mon Sep 25, 2017
Joquim Fernandes answered:
You can find some good property sites at http://mayfairhousing.com
0 votes 7 answers Share Flag
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